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Identify the top three neighborhood lifestyles to better serve your customers. ESRI's Community Tapestry segmentation system classifies each U.S. ZIP Code based on socioeconomic and demographic characteristics to create 65 distinct market segments.
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Consumer Spending data lets you identify important changes and significant trends in consumer spending and buying habits. Based on annualized data from the Consumer Expenditure Survey, Consumer Spending (CEX) data helps you identify the best areas to market your products and services.
With Consumer Spending data, you can
- Measure local demand for goods and services
- Identify changing consumer tastes and preferences by geography
- Analyze spending pattern increases or reductions by geography
- Develop in depth-market analyses
Why Use Consumer Spending Data?
By combining the most current release of the Consumer Expenditure Surveys (2004-2005) from the Bureau of Labor Statistics with ESRI's market segmentation system Community Tapestry, the CEX database offers a precise measure of consumer spending. Business and organizations use this information to decide which products and services they should market to specific populations, or whether to expand or reduce existing product and service offerings.
For example, current spending trends in certain U.S. economic sectors reveal expectations for moderate growth. However, as health premiums continue to rise, the expected amount consumers will pay for out-of-pocket expenses will cause spending for health insurance, prescription drugs, and vitamins to increase significantly, leaving less disposable income for discretionary spending.
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